Bonus boom for investment bankers?

7 July 2011

Investment bankers in the City of London could be readying themselves for heavy bonuses after lenders brought in sizeable increases in fees.

A study from Reuters revealed a total of £30.5 billion ($48.9 billion) was levied by institutions in such payments during the first six months of this year, marking a 23 per cent jump on that recorded during the same period in 2010.

The Independent noted this news is likely to result in bankers expecting six or even seven-figure handouts, as the size of these packages are usually dependent on a percentage of the fees the banks generate.

Brendan Barber, general-secretary of the Trades Union Congress - which represents 6.2 million working people - said: "The large increase in fees collected by UK banks show that the good times are rolling in the City again."

He added this movement is likely to come as a shock to those who are currently finding it particularly tough to persuade the banks to lend to them.

By Gary Cooper